ICICI Bank Emeralde Credit Card
By WhichWise Editorial Team · Verified ·
A signature Visa card with unlimited lounge access. We break down whether unlimited lounge visits and a 1% earn rate justify ₹12,000/year.
ICICI Bank
By WhichWise Editorial Team · Verified ·
A signature Visa card with unlimited lounge access. We break down whether unlimited lounge visits and a 1% earn rate justify ₹12,000/year.
Fee waiver requires ₹10,00,000 annual spend (₹83,333/month) on eligible retail. Most issuers exclude cash, rent, wallet reload, and fuel from the waiver-eligible total.
The ICICI Bank Emeralde Credit Card is ICICI Bank's ₹12,000-a-year reward points credit card with about 1% base rewards on everyday spend. Best for ₹10-16l annual spenders.
Quick Decision
Reward earnings only, at the everyday spend mix: milestone vouchers and lounge value are tracked separately in the sections below.
Casual users hit the lower end; engaged users hit the upper end.
See full analysisPros & Cons
A balanced look at what this card does well and where it falls short.
- Fee waived on ₹10.0L annual spend
- No monthly reward cap
- Fuel surcharge waiver
- Unlimited worldwide lounge access
- Welcome bonus included
- High income requirement: ₹1,50,000/month
Our editorial take on this card
What works
The lounge package is the headline draw: unlimited complimentary access for the primary cardholder to both domestic and international lounges through DreamFolks and Priority Pass, with no per-quarter spend gate to unlock the benefit (MITC explicitly excludes Emeralde from the Rs.75K quarterly spend requirement applied to other ICICI cards). At a frequent-flyer cadence of 2 domestic + 1 international visit per month, you are capturing roughly Rs.4,500-6,000/month in lounge value alone -- that single benefit can cover the Rs.14,160 annual fee twice over. The 2% forex markup (effective Nov 15, 2024) is among the lowest in the super-premium segment -- matching HDFC Bank Infinia Metal Edition (2%) and Axis Bank Magnus (2%), and 1.5 percentage points lower than ICICI Bank Sapphiro (3.5%) -- so the card is a genuine travel companion abroad. The unified 4 points per Rs.100 earn rate applies equally to domestic and international spend (no domestic/online/offline split) with the conservative effective return of 1% on all retail. American Express variant holders get a Rs.5,000 TATA CLiQ birthday voucher annually plus a Rs.5,000 Da Milano milestone voucher once you cross Rs.2 lakh spend in a year -- that is Rs.10,000 in face-value vouchers stacked on the lounge perks for Amex cardholders -- discount them mentally if you don't shop TATA CLiQ or Da Milano, since closed-loop brand vouchers carry redemption friction and aren't fungible like statement credits. Other perks: 1% fuel surcharge waiver up to Rs.50,000 per statement cycle on all petrol pumps, BookMyShow buy-one-get-one (up to Rs.750 off the second ticket, four times per month -- requires Rs.25,000 spend in the preceding quarter per MITC section 10), and the card is issued on three networks (Visa, Mastercard, American Express) at the same fee.
Start with the structural problem: ICICI Bank discontinued sourcing of the Emeralde Credit Card (and the Emeralde Private Credit Card monthly membership plan) with effect from July 24, 2025 per the current MITC. That means new applications are not being accepted -- this review is functionally for existing holders deciding whether to renew or migrate. The Rs.14,160 joining + Rs.14,160 annual fee is steep, and the Rs.10 lakh annual spend required for fee waiver works out to Rs.83,333/month -- if you cannot sustain that volume, your effective benefit per rupee shrinks fast. Reward earn is gated on category: utility and insurance spend earns just 1 point per Rs.100 (0.25% effective) and is capped at Rs.80,000 per statement cycle for accelerated earn (grocery and departmental store spend is capped at Rs.40,000/cycle per MITC). Reward exclusions per MITC: Cash, Rent, E-Wallet Reload, and Fuel transactions earn zero reward points -- the fuel surcharge waiver only refunds the 1% surcharge, it does not earn points. The 4 points per Rs.100 looks generous on paper but at the conservative Rs.0.25 per point that is a 1% effective base return -- lower than HDFC Bank Infinia Metal Edition's 1.665% (5 points per Rs.150 at Rs.0.50/point) and HDFC Bank Diners Club Black Metal Edition's 1.665% base, both of which also offer unlimited lounges and 2% forex. The welcome bonus is variant-specific (American Express variant only) and limited to Rs.5,000 -- a fraction of what Infinia (Rs.12,500 in vouchers + 12,500 bonus reward points) or Sapphiro (Rs.13,000 in vouchers) offer at similar or lower fees. Aggregator-reported Amazon (1%) and Marriott (2%) accelerated earn rates are blocked on our card data because ICICI never published them on the product page or MITC, so do not bank on them.
Bottom line
The ICICI Bank Emeralde Credit Card is a strong lounge-and-forex card for existing holders who spend over Rs.10L/year, but ICICI closed new applications on July 24, 2025. If you already have it (especially the American Express variant), retain it as long as your spend covers the fee waiver. If you are shopping for a new super-premium card today, HDFC Bank Infinia Metal Edition delivers a meaningfully higher 1.665% base reward rate at a slightly lower Rs.12,500 fee with the same unlimited lounge access and 2% forex markup, and is still open to applicants.
Independent analysis from public card terms, no paid placements or ratings.
Welcome Bonus
VerifiedOne-time bonus for new cardholders
So what does this card actually earn?
Reward Points
This card earns reward points on every transaction. The real value of your points depends on how you redeem them: here is a breakdown of the redemption tiers.
Cash redemption: 57% value loss vs best tier
Effective rate drops from 1.4% (at ₹0.35/point via vouchers/travel) to 0.6% (at ₹0.15/point as statement credit / cash equivalent). If you want flexible cash redemption, a flat 1.5%+ cashback card will out-earn this card.
per point
1%
assumes ₹0.25/point redemption
Redemption Tiers
Tap a tier to update the Value Verdict above
Worst Case
Statement credit, cashback
Partner Rewards
Earn bonus rates at these merchants
| Merchant | Reward | Type |
|---|---|---|
| BookMyShow | BOGO up to Rs.750 off on 2nd ticket, 4x/month | Flat discount |
Lounge Access
Complimentary airport lounge visits
Domestic
∞
unlimited
International
∞
unlimited
Priority Pass
Yes
membership
Who Is This Card For?
Existing Emeralde Credit Card holders -- particularly American Express variant holders -- who earn over Rs.1,50,000/month, comfortably spend Rs.10L+/year on the card (to waive the Rs.14,160 annual fee), and take three or more lounge visits per month. Salaried applicants with monthly income at the eligibility threshold of Rs.1,50,000 or self-employed at Rs.18,00,000/year cannot apply (sourcing closed Jul 24, 2025) but should be aware this was the bar.
Anyone currently looking to apply for a new super-premium card -- the Emeralde Credit Card is no longer accepting applications (closed Jul 24, 2025). Existing holders who spend under Rs.10L/year should drop the card after fee due-date because unwaived fees plus the 1% effective base rate cannot recover the cost. Pure rewards maximisers should consider HDFC Bank Infinia Metal Edition (1.665% effective base, identical 2% forex, same unlimited lounges, still being issued). Cash-back lovers should pick a percentage-cashback card -- Emeralde is a reward-points card and even at the best Rs.0.35/point redemption tier the effective rate (1.4%) lags pure cashback alternatives.
How It Compares
Side-by-side with similar cards in our database.
| Feature | This card | EazyDiner IndusInd Bank | American Express Platinum Travel |
|---|---|---|---|
| Annual fee | ₹12,000 | ₹2,999 | ₹5,000 |
| Reward ratecash-equivalent · accelerated | 1.00%1.40% if redeemed for travel | 0.40%no accelerator | 1.00%no accelerator |
| Network | Visa / Mastercard / American Express | Visa | American Express |
| Acceptance | Universal | Universal | Limited |
| Eligibility | Not accepting | Applicable | Applicable |
Methodology: reward rates shown at cash-equivalent redemption (statement credit / direct cashback): the most conservative tier every cardholder can realize. Travel-transfer or partner-merchant routing can be materially higher; see each card's full review for upside scenarios.
Fees & Charges
Complete breakdown of all fees associated with this card.
Value Verdict
All rupees · no routingEstimated annual value at ₹50,000/month spend with base earn on all retail.
✓ The fee gets waived at ₹83,333/month spend (₹10,00,000/year on eligible retail). Below that, the card only makes sense if you actually use the perks listed above: base rewards alone can't cover the ₹14,160 GST-inclusive fee until ₹1,18,000/month, by which point the waiver has already kicked in.
Year 1 also carries a one-time ₹12,000 + 18% GST joining fee (~₹14,160), charged upfront on issuance and not waivable by spend. The net above reflects the renewal-year fee; subtract the joining fee from year-1 value.
Assumptions used in this estimate▸
- • Reward earnings shown at the conservative redemption tier (vouchers / statement credit).
- • Lounge value uses ~55% realistic utilization (most flyers don't fully clock the available visits). Per-visit anchors: ₹800 domestic, ₹1,500 international. Retail-equivalent (100% utilization) would be ₹18,600.
- • Annual fee of ₹12,000 + 18% GST (₹14,160 total) is included in the net calculation. Fee would be waived above ₹10,00,000/year spend.
Eligibility
Requirements you need to meet to apply for this card.
Data verified against ICICI Bank official website · Last verified: 2026-05-09
WhichWise does not accept payment for card placement or ratings. Fees, rates, and benefits may change. Always confirm with the issuer before applying.
Verified from the source
Key facts below are quoted verbatim from ICICI Bank's own pages and documents, not paraphrased.
- Joining fee
“ICICI Bank Emeralde Credit Card 12,000 Nil 12,000 Nil 10,00,000***”
Verified quote from icici.bank.in (MITC document) · fetched 2026-05-08 - Reward type
“11. Terms and Conditions pertinent to ICICI Bank Rewards:”
Verified quote from icici.bank.in (MITC document) · fetched 2026-05-08 - Welcome bonus
“Shopping voucher from TATA CLiQ worth ₹5,000 (American Express Cardholders)”
Verified quote from icici.bank.in (issuer website) · fetched 2026-05-09 - Forex markup
“Mark-up of 2% will be levied for Emeralde Private Metal Credit Card, Emeralde Private Credit Card and Emeralde Credit Card (w.e.f. Nov 15, 2024)”
Verified quote from icici.bank.in (MITC document) · fetched 2026-05-08 - Lounge access
“updated criteria to avail complimentary domestic airport lounge access will be”
Verified quote from icici.bank.in (MITC document) · fetched 2026-05-08 - Fuel surcharge waiver
“Surcharge waiver of 1% of transaction value on all petrol pumps on select cards.”
Verified quote from icici.bank.in (MITC document) · fetched 2026-05-08 - Minimum income
“A salaried individual with a monthly income of ₹1,50,000”
Verified quote from icici.bank.in (issuer website) · fetched 2026-05-09 - Card network
“rates provided by VISA, MasterCard or AMEX, as the case may be”
Verified quote from icici.bank.in (MITC document) · fetched 2026-05-08
Interested in ICICI Bank Emeralde?
Check the official page for the latest terms before applying.